Artificial Intelligence: Business Paradigm Reimagined

Today, as the world stands at the cusp of the Information age and the era of Connected Intelligence, meet the technology that has sparked off the fourth industrial revolution – Artificial Intelligence (AI). AI technologies are largely designed to help humans work better – first, by generating insight from data more quickly and accurately than is humanly possible and second, by acting automatically on that insight.

Artificial Intelligence: The new normal in technologyNot so long ago, AI was merely a “one day” conversation that came alive in sci-fi novels and movies. The idea of an artificial being with humanlike consciousness can be traced back to tales of mechanical men from Mary Shelley’s ‘Frankenstein’ to, more recently, author-scientist Isaac Asimov’s ‘Three Laws of Robotics’. AI has indeed come a long way, and it has already triggered the most transformative revolution ever. Not surprisingly, Artificial Intelligence features in Gartner’s Hype Cycle for Emerging Technologies, 2017. And the unprecedented pace of the current breakthroughs is disrupting almost every industry in every country, making a potent tool to create business value. A Forrester study reveals that by 2019, AI will impact 25% of jobs in some way or the other. Reason enough for future-driven companies to sit up and take notice.
The exponential rise of this technology can be attributed to 3 key factors:
• The emergence of smarter, modern-day algorithms
• Easy access to a huge volume of data because of increased mobile usage, connected devices and sensors
• Cloud enabling cheaper and easier access to large scale compute power and bigger storage